It is a coverage on a recent hot topic -- China's over-heated property market.

Following Beijing and Shanghai's lead, a string of local governments have come out with their own plans to control the volatile housing markets in their own regions.

The Central Government's requirment that they provide "detailed regulations," has meant most local government have come up short.

For example, Nanjing's "detailed regulations" to cool down its property market compose of exactly 154 characters.

Many cities haven't touched on the issues in focus, such as whether to impose a 20-percent home resale tax, increased down payment for second and more homes or raised mortgage rates.

But the gist is clear. Most cities have pledged to limit the increase in prices of new properties below the cities' per capita disposable income targets.

However, not everyone is confident that this will work out.

Tu Tengjing, real estate businessman, said, "What can be predicted is that if a 20-percent home resale tax is levied, buyers will just swarm to the new homes market. And prices of new homes will skyrocket."

By vowing to cool the market down, the government new policy, to some extent, has pushed the buyers and sellers to complete their deals as quickly as possible before the new regulations kicked in.

According to the China Real Estate Index System, prices of second-hand homes rose 2.81 percent from February this year. On a year-on-year basis, second-hand home prices rose 18.06 percent in March.

Jiang Yuping, deputy director of Nanjing Equity Market Office, said, "We have seen about seven or eight times more real estate transactions this month. We have to work overtime to deal with the increased volumes. But we expect the number of transactions to taper off soon."

Many cities did see fewer transactions immediately after the new regulations came out.

The Central Government had been trying to put brakes on the fast moving property market for the past year. And now it has finally come out with a plan to do so. It remains to be seen what long term impact this will have on China's real estate market in the coming years.

(CNTV.cn April 1, 2013)